Should I Buy or Lease?

If you have concerns about committing to a new car purchase, have you considered leasing? Leasing is an option that allows you to drive a Mazda for a set amount of time and return or purchase the vehicle once the time is up. Here are a few advantages to consider:

  • Access to Newer Models - Because you only lease a car for a set amount of time, you have the option of leasing the latest model every few years.
  • Lower Monthly Payment - On average, you can expect to pay approximately 40% less each month than you would if you purchased. This means you'll have more cash in your pocket every month.
  • Sales Tax - You only have to pay tax on the "payment" amount as opposed to the full value of the vehicle.
  • High Mileage Driver Savings - If you expect to drive more than the designated mileage associated with a lease, you can pre-pay for additional miles for $0.10/mile (or $0.15 at termination) versus the $0.20-$0.30/mile deduction from the value of a trade-in.
  • GAP Protection Included - In the event of unforeseen loss or damage, GAP protection will help cover the potential financial gap between what your primary insurance company pays in settlement (typically the fair market value or actual cash value of the vehicle at the time of loss) and the balance of your loan to prevent a negative equity position.
  • Wear and Tear Protection - No matter how well you take care of a vehicle, with age comes some signs of use (aka wear and tear). Our lease program has a $1000 threshold for repairs meaning that you will only be liable for the amount in excess of $1,000 needed to restore the vehicle.
  • Credit Rating Improvement - Because Leases are usually reported as a total of payments, it could reduce your debt to income ratio and possibly improve one's credit score.
  • Eliminates depreciation risk - A common concern among car shoppers is that once you purchase and drive off the lot in your new vehicle, it begins to lose value. When you lease, you are only paying for the depreciation of the vehicle as opposed to the total price of the car. In essence, think of a lease as a long term car rental.
  • Tax benefits - For small business owners, leasing can be a great idea. In most cases, the full payment amount can be used for tax deduction purposes.

If you want to learn more about Lease Options, speak with one of our sales consultants by calling (800) 948-0618, in person or online.